South Exchange, Inc.; On 5/29/2018, the Florida Office of Financial Regulation (Consumer Finance) received a Petition for Declaratory Statement from South Exchange, Inc. The petition seeks a declaratory statement from the Office on whether ((1) an ...

 

DEPARTMENT OF FINANCIAL SERVICES

Finance

NOTICE IS HEREBY GIVEN that the Florida Office of Financial Regulation has received the petition for declaratory statement from South Exchange, Inc. The petition seeks the agency's opinion as to the applicability of Chapter 560, Florida Statutes, as it applies to the petitioner.

On 5/29/2018, the Florida Office of Financial Regulation (Consumer Finance) received a Petition for Declaratory Statement from South Exchange, Inc. The petition seeks a declaratory statement from the Office on whether ((1) an authorized vendor may provide check cashing and foreign currency exchange services on behalf of a licensed money transmitter; and (2) an entity may serve as an authorized vendor on behalf of multiple money transmitters at the same location; and (3) an authorized vendor serving multiple licensed money transmitters at the same location may accept and cash a payment instrument endorsed with the customer's name only, provided that the authorized vendor subsequently endorses the instrument to the appropriate money transmitter and deposits the instrument into the money transmitter's commercial bank account) under the Florida Money Transmitter Statute, Chapter 560, Florida Statutes.

A copy of the Petition for Declaratory Statement may be obtained by contacting: Agency Clerk, Office of Financial Regulation, P.O. Box 8050, Tallahassee, Florida 32314-8050, [phone], [e-mail]

Please refer all comments to: Agency Clerk, Office of Financial Regulation, P.O. Box 8050, Tallahassee, Florida 32314-8050, [phone], [e-mail].